New York State Common Retirement Fund Has $6.75 Million Stake in Universal Display Co. (NASDAQ:OLED)

New York State Common Retirement Fund reduced its holdings in Universal Display Co. (NASDAQ:OLED) by 7.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 35,300 shares of the semiconductor company’s stock after selling 2,903 shares during the quarter. New York State Common Retirement Fund’s holdings in Universal Display were worth $6,751,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Orion Capital Management LLC acquired a new stake in Universal Display in the 3rd quarter valued at approximately $31,000. Rise Advisors LLC bought a new position in Universal Display during the fourth quarter worth $57,000. Fifth Third Bancorp raised its stake in Universal Display by 22.5% during the 3rd quarter. Fifth Third Bancorp now owns 593 shares of the semiconductor company’s stock valued at $93,000 after purchasing an additional 109 shares during the last quarter. CWM LLC boosted its holdings in Universal Display by 21.0% in the 4th quarter. CWM LLC now owns 606 shares of the semiconductor company’s stock valued at $116,000 after purchasing an additional 105 shares during the period. Finally, Nisa Investment Advisors LLC grew its position in Universal Display by 47.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 933 shares of the semiconductor company’s stock worth $178,000 after purchasing an additional 300 shares during the last quarter. 78.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on OLED shares. Needham & Company LLC reiterated a “buy” rating and issued a $198.00 target price on shares of Universal Display in a research note on Friday. Oppenheimer reaffirmed an “outperform” rating and issued a $200.00 price target (down previously from $210.00) on shares of Universal Display in a report on Friday, February 23rd. TD Cowen lifted their price objective on Universal Display from $165.00 to $210.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Finally, Citigroup restated a “neutral” rating and set a $180.00 price objective (up from $161.00) on shares of Universal Display in a research report on Friday, January 19th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $199.86.

Universal Display Price Performance

Universal Display stock opened at $170.82 on Friday. The business has a 50 day simple moving average of $163.30 and a 200 day simple moving average of $168.95. The company has a market capitalization of $8.10 billion, a PE ratio of 37.13, a price-to-earnings-growth ratio of 1.70 and a beta of 1.44. Universal Display Co. has a one year low of $131.00 and a one year high of $194.84.

Universal Display (NASDAQ:OLED) last issued its quarterly earnings data on Thursday, May 2nd. The semiconductor company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.05 by $0.14. Universal Display had a return on equity of 15.84% and a net margin of 36.00%. The company had revenue of $165.26 million during the quarter, compared to analysts’ expectations of $150.75 million. During the same period last year, the business earned $0.83 earnings per share. The business’s revenue was up 26.7% on a year-over-year basis. Equities analysts anticipate that Universal Display Co. will post 4.72 earnings per share for the current fiscal year.

Universal Display Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.94%. This is a boost from Universal Display’s previous quarterly dividend of $0.35. The ex-dividend date was Thursday, March 14th. Universal Display’s dividend payout ratio is currently 34.78%.

About Universal Display

Universal Display Corporation engages in the research, development, and commercialization of organic light emitting diode (OLED) technologies and materials for use in display and solid-state lighting applications in the United States and internationally. The company offers PHOLED technologies and materials for displays and lighting products under the UniversalPHOLED brand.